Just a few months after their big anniversary, it seems as though 40 years are as many as Nine West will be celebrating. Yup, just like many of your other favorite classic stores such as True Religion, Gymboree, Payless, and more, Nine West has officially filed chapter 11- bankruptcy. You are probably wondering why if so many of your favorite stores have filed for bankruptcy you are still seeing them around and that’s because every company approaches their process differently. Along with that, bankruptcy does not always necessarily mean that a store will disappear forever right away; All that filing a chapter 11 does for a company is permit it to reorganize under the bankruptcy laws of the United States. So in Nine West’s case they won’t be disappearing forever, but instead will be focusing their efforts on trying to get bought by the Authentic Brands Group, or the owners of the one and only Juicy Couture.
Although sad, the news does not come as much of a surprise seeing as the trendy shoe and accessory store closed a record breaking 7,000 stores last year alone and were more than $1 billion in debt. We all need to start facing the sad reality that some of our favorite stores may not be around much longer thanks to online shopping. For all we know Urban Outfitters could be next… but we’d rather just not think about that unless absolutely necessary.
#SOS #SaveOurStores
http://money.cnn.com/2018/04/06/news/companies/nine-west-bankruptcy/inde…
http://www.businessinsider.com/retailers-bankruptcy-filings2017-9/#wet-s…